Loans for gold purchasing for production of jewelry and fine art goods

The Governor of the State Bank of Vietnam (SBV) issued Document No. 9337/NHNN-QLNH on December 6 tasking credit institutions to decide loan extension to purchase gold for production and processing of jewelry and fine art articles.

Accordingly, credit institutions provide loans to customers for production and processing of jewelry and fine art articles in compliance with the Lending Regulations promulgated together with Decision No. 1627/2001/QD-NHNN of the SBV Governor dated December 31, 2001, Circular No. 33/2011/TT-NHNN of the SBV Governor dated October 8, 2011, Document No. 7816/NHNN-CSTT of the SBV dated October 6, 2011 and other relevant legal texts.

Credit institutions are responsible for strictly monitoring to make sure that loans will be spent to purchase gold for production and processing of jewelry and fine art articles, and that both principal and interest will be repaid on due date. Additionally, credit institutions should be responsible for all the risks arising in loan extension for this purpose.

sbv

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